Bank of New York Mellon Corp Makes New Investment in Clean Harbors, Inc. $CLH

Bank of New York Mellon Corp purchased a new stake in shares of Clean Harbors, Inc. (NYSE:CLH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 354,685 shares of the business services provider's stock, valued at approximately $105,962,000. Bank of New York Mellon Corp owned 0.67% of Clean Harbors at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLH. Elyxium Wealth LLC bought a new position in Clean Harbors in the 4th quarter worth approximately $26,000. Quattro Advisors LLC bought a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $26,000. MidFirst Bank bought a new stake in shares of Clean Harbors in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Clean Harbors by 205.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Clean Harbors by 676.5% in the fourth quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock worth $31,000 after acquiring an additional 115 shares during the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

Clean Harbors Stock Performance

NYSE CLH opened at $313.58 on Tuesday. Clean Harbors, Inc. has a twelve month low of $201.34 and a twelve month high of $335.94. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The stock has a market cap of $16.55 billion, a P/E ratio of 38.06, a PEG ratio of 2.04 and a beta of 0.86. The company's 50-day simple moving average is $305.74 and its 200 day simple moving average is $295.16.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.41. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the company earned $2.36 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Clean Harbors, Inc. will post 9.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the transaction, the director directly owned 8,979 shares of the company's stock, valued at $2,819,495.79. This trade represents a 8.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the transaction, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CLH has been the subject of several research analyst reports. Raymond James Financial reiterated a "strong-buy" rating and set a $375.00 target price on shares of Clean Harbors in a research note on Thursday, July 30th. UBS Group raised their price target on shares of Clean Harbors from $300.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. The Goldman Sachs Group restated a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. Wells Fargo & Company upped their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Truist Financial increased their target price on shares of Clean Harbors from $350.00 to $365.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Clean Harbors has a consensus rating of "Moderate Buy" and a consensus target price of $354.57.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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